Just in time for the summer travel
season, American Express has unveiled a
modernized version of its venerable
paper Travelers Cheques with the
American Express(R) Travelers Cheque
Card, a prepaid, reloadable card that
can be used at merchants and ATMs
worldwide that accept American Express.
The Travelers Cheque Card offers 24-hour
refundability and peace of mind for
those planning a summer vacation this
year -- that's nearly half of all
Americans (47%), according to the
American Express Summer Travel Payment
Survey also released today.
While Americans carry a significant
amount of cash -- spending approximately
$100 billion in cash annually when they
travel -- they agree that cash is the
least safe form of travel money (68%),
according to the American Express
survey. Travelers Cheques are broadly
seen by travelers as the safest form of
"travel money" -- cited by 40% of
It's no surprise that losing a wallet
tops the list of money-related concerns,
cited by more than a third of those
surveyed (37%). Other money concerns
are budgeting wisely (29%), losing
credit cards (10%), a passport (7%) or
debit card (5%).
One in ten surveyed has either lost
cash or had it stolen while traveling.
Those reporting losses of cash, credit
and debit cards, and identification
documents spent eight hours of their
vacations on average seeking emergency
assistance; for more than one in four
(27%) the problem was never resolved.
Travelers are also worried about the
risks associated with losing their debit
cards while traveling. They fear a lost
or stolen debit card could put them at
risk for identity theft (42%), could
result in financial loss because it is
linked to their bank account (38%), and
provide less control over currency
fluctuations since they are subject to
each bank's exchange rates (17%).
"Today's travelers have an increasing
number of worries when it comes to
protecting their funds and valuables,"
said Valerie Soranno Keating, President,
American Express Global Travelers
Cheques and Prepaid Services Group.
"The Travelers Cheque Card takes safe
travel to a whole new level, helping to
ensure they will have a stress-free
Travel Precautions: From None
One in four (25%) admit they
don't take any special precautions to
protect their valuables while traveling.
Forty percent separate and carry their
cash, credit cards and travel documents
in different pockets; a third (33%) use
hotel safes, and nearly as many (31%)
make sure they carry credit and debit
cards that can easily be replaced if
lost. More than one in five travelers
(22%) carry their valuables in a hidden
money belt or pouch.
Managing "Euro Shock" This
According to the survey, of the
millions of Americans traveling to
Europe this summer, half say U.S. Dollar
exchange rates will impact their plans
(53%). Many will cap their costs by
paying for as much of their trip in
advance, locking in exchange rates
(44%); about a third (35%) say they will
be more careful about budgeting.
The American Express Travelers Cheque
Card addresses many of concerns
highlighted in the survey, offering
travelers a safe and convenient payment
method. Unlike debit cards, the
Travelers Cheque Card is not linked to a
bank account, helping reduce the risk of
financial loss and identity theft.
Travelers Cheque Card
Features and Benefits
- Not linked to a bank account
- Worldwide refunds, within 24
hours, 7 days a week
- Accepted at millions of places
worldwide, including ATMs
- The option to reload the Card,
virtually anywhere, anytime
- Passport and credit card
replacement assistance at no
- Customer Service support
worldwide 24 hours a day, 7 days a
- Available in U.S. Dollar, Euro
and British Pound Sterling,
providing the ability to lock in
The Travelers Cheque Card can be
purchased via telephone toll-free, at
1-888-412-6945, through the American
Express web site at http://www.americanexpress.com/tcc
or in person at participating banks.
The American Express Summer Travel
Payment Survey was conducted by
telephone between April 20-28, 2005 as
part of an omnibus study and surveyed
1,381 adults aged 18 or older.